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Summary:

Leifheit has overcome a difficult start to the year with a near-50% rise in underlying EBIT in Q2 and renewed commitment to an apparently well-defined retail strategy, eg enhanced brand presence at the point of sale, increased e-commerce and targeted growth in Central and Eastern Europe, as well as Turkey. The recent appointment of an experienced CEO from early next year is similarly encouraging. Confirmed guidance of stable full-year EBIT on slightly higher revenue appears sensible, given persistent pressures on consumer spending and the company's uneven performance in the year to date. Finances remain strong (at June €42m cash, no debt).

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